Mitie Group unveils annual results

19 May 2014

Mitie, the strategic outsourcing company which delivers a range of services across the UK and Europe, this morning announced its results for the year ended 31 March 2014.

The FTSE 250 company employs in excess of 70,000 people across the UK and Europe. The headline results reflect strong revenue and earnings growth, with revenues up 8.2% to £2,142.6m and operating profit before other items increasing by 6.0% to £127.5m.

In this period Mitie was awarded new contracts which include:

• A five year £110m contract extension with Capita to deliver integrated facilities management

• A new three year £38m contract with Mitchells & Butlers to deliver waste management services at 1,600 restaurants throughout the UK

• A new three year £33m contact to deliver technical facilities management for Four Seasons Healthcare

• A new three year £5m contract to provide facilities management services to Kellogg’s UK and European head offices in Manchester and Dublin

Ruby McGregor-Smith CBE, Chief Executive of Mitie, commented: “We have made excellent progress, achieving sector-leading organic growth driven by new and expanded contracts, as well as completing a bolt-on acquisition in healthcare. We are very well-positioned as one of the UK’s leading integrated facilities management providers and we have also invested in higher margin markets such as homecare, all of which will support our growth aspirations.
“We expect outsourcing opportunities will continue to grow, with a trend towards more clients seeking to access bundled and integrated services. We are confident that we will continue to build on our track record of delivering sustainable, profitable growth.”

For more details about Mitie’s results click here.